Dukascopy - Analytics

    Dukascopy

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    Real

    GBP/USD fell for second consecutive day

    © Dukascopy Bank SA
    "If unemployment keeps falling, the laws of supply and demand have not been repealed, we will get inflation out of this."
    - High Frequency Economics (based on Reuters)

    Pair's Outlook
    The Sterling extended its decline on Friday, losing almost half of Wednesday's gain in two days. GBP/USD cross ended the trading day at 1.5391, after reaching a daily low around the 55-day SMA, which stopped the pair from falling further. Moreover, the pair is likely to rebound this week, as the previous support is bolstered by the weekly S1 now. 

    Traders' Sentiment
    Meanwhile, sentiment remains neutral, whereas the number of orders to acquire the Sterling edged up, accounting for 59% today.

    © Dukascopy Bank SA

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